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EUR/USD lifts on better German and French PMI data
The EUR/USD was lifting again just ahead of the French January flash PMI data, lifting above 1.0480 (1.0488 seen afterwards) and hence reaching a new 2025 high in the process. The move higher came as the USD/JPY gave up on its earlier rebound and pushed back towards 155 again. Well, that French data beat estimates on Manufacturing, but missed on services. The resulting composite number was higher though and the Euro did not backed off that much following this mixed data. Well, the German equivalent has just now been released and that has beaten the street on both counts. The EUR/USD has lifted above 1.0490 right now and surely seems to have a push to above the 1.05 handle in its sights right now. The last time the EUR/USD was above 1.05 was back on December 18.
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